Picton Mahoney Asset Management Sells 151,426 Shares of Nasdaq, Inc. (NASDAQ:NDAQ)

Picton Mahoney Asset Management lessened its stake in Nasdaq, Inc. (NASDAQ:NDAQ - Free Report) by 85.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,230 shares of the financial services provider's stock after selling 151,426 shares during the quarter. Picton Mahoney Asset Management's holdings in Nasdaq were worth $1,914,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. First National Advisers LLC increased its holdings in shares of Nasdaq by 9.8% in the first quarter. First National Advisers LLC now owns 10,166 shares of the financial services provider's stock worth $771,000 after purchasing an additional 909 shares during the period. LPL Financial LLC grew its position in Nasdaq by 5.5% in the first quarter. LPL Financial LLC now owns 465,607 shares of the financial services provider's stock worth $35,321,000 after acquiring an additional 24,336 shares in the last quarter. Texas Yale Capital Corp. grew its position in Nasdaq by 4.5% in the first quarter. Texas Yale Capital Corp. now owns 27,688 shares of the financial services provider's stock worth $2,100,000 after acquiring an additional 1,196 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Nasdaq by 7.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 382,334 shares of the financial services provider's stock worth $29,004,000 after acquiring an additional 27,034 shares in the last quarter. Finally, Empirical Finance LLC grew its position in Nasdaq by 3.1% in the first quarter. Empirical Finance LLC now owns 12,562 shares of the financial services provider's stock worth $953,000 after acquiring an additional 374 shares in the last quarter. Institutional investors own 72.47% of the company's stock.

Nasdaq Trading Down 1.1%

NDAQ stock traded down $1.05 during trading on Friday, reaching $95.17. The company had a trading volume of 2,845,954 shares, compared to its average volume of 3,421,172. Nasdaq, Inc. has a 52 week low of $64.33 and a 52 week high of $97.07. The company has a market cap of $54.61 billion, a P/E ratio of 36.60, a PEG ratio of 2.13 and a beta of 1.00. The business has a 50 day moving average of $88.29 and a 200 day moving average of $81.25. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.96 and a quick ratio of 0.98.

Nasdaq (NASDAQ:NDAQ - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.07. Nasdaq had a net margin of 18.59% and a return on equity of 15.90%. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned $0.69 earnings per share. The business's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, sell-side analysts forecast that Nasdaq, Inc. will post 3.18 earnings per share for the current fiscal year.

Nasdaq Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.1%. Nasdaq's dividend payout ratio (DPR) is currently 41.54%.

Insider Buying and Selling at Nasdaq

In other Nasdaq news, EVP Bradley J. Peterson sold 11,508 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $88.87, for a total transaction of $1,022,715.96. Following the completion of the transaction, the executive vice president owned 111,035 shares of the company's stock, valued at approximately $9,867,680.45. This trade represents a 9.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Pc Nelson Griggs sold 8,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $83.03, for a total transaction of $664,240.00. Following the sale, the insider directly owned 211,405 shares of the company's stock, valued at $17,552,957.15. This trade represents a 3.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,304 shares of company stock worth $2,686,833 over the last three months. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on NDAQ shares. Citigroup reiterated a "neutral" rating on shares of Nasdaq in a research report on Wednesday, July 9th. Morgan Stanley upped their price target on shares of Nasdaq from $75.00 to $86.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Barclays upped their price target on shares of Nasdaq from $101.00 to $109.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Nasdaq from $97.00 to $105.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Nasdaq from $103.00 to $104.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Nasdaq presently has an average rating of "Moderate Buy" and an average target price of $96.63.

About Nasdaq

Nasdaq, Inc operates as a technology company that serves capital markets and other industries worldwide. It operates in three segments: Capital Access Platforms, Financial Technology, and Market Services. The Capital Access Platforms segment sells and distributes historical and real-time market data; and develops and licenses Nasdaq-branded indices and financial products.